If Republican state Rep. Mike Pitts has his way in South Carolina, your money will be no good there. Or probably anywhere else. Pitts is taking anti-Obama fervor to its illogical extreme with a proposed law that would ban anyone in the state from accepting US Federal Reserve notes as legal tender. In place of the Benjamins, Pitts would have his fellow citizens trade only in gold or silver coins. Which should thrill Glenn Beck’s remaining advertisers, at least.
"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," Pitts told CBSNews.com. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also," he added, apparently unaware that unilaterally banning the federal currency would be a pretty quick way to collapse the savings of all South Carolinians.
It's not clear how closely connected Pitts is to any Tea Party groups, but he's certainly doing their bidding, and not just in advocating a gold (and silver) standard.
[Read more in the MoJo blog]